Saudi-based Al Yamamah Steel Industries Company has signed two contracts with a combined value of SAR254.27 million ($67 million) with Algihaz Contracting Company to supply steel towers for the construction of 380kV ultra-high-voltage transmission lines in the kingdom's Western Region.

The first contract is valued at SAR118.63 million and the second at SAR135.65 million, respectively, said the Saudi company in its filing to Tadawul.

As per the deal, Al Yamamah Steel Industries will start the supply of steel transmission towers from March next year and complete it within a one-year period.

These agreements support the development of Saudi Arabia’s high-voltage electricity transmission infrastructure and the expansion of the national power transmission network in the Western Region, it added.